Limit and rate of convergence of the sequence $a_{n+1}=\frac{a_n^2+b_n^2}{a_n+b_n},~~b_{n+1}=\frac{a_n+b_n}{2}$

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Define the sequence the following way for some $x,y \geq 0$:

$$a_0=x,~~~~~~~b_0=y$$

$$a_{n+1}=\frac{a_n^2+b_n^2}{a_n+b_n},~~~~~~b_{n+1}=\frac{a_n+b_n}{2}$$

Obviously:

$$a_n \geq b_n,~~~~n \geq 1$$

For convergence rate we have:

$$a_{n+1}-b_{n+1}=\frac{(a_n-b_n)^2}{2(a_n+b_n)} \tag{1}$$

We have a weak inequality:

$$\frac{(a_n-b_n)^2}{2(a_n+b_n)} \leq \frac{(a_n-b_n)^2}{2(a_n-b_n)}=\frac{a_n-b_n}{2}$$

So our convergence rate is at least linear:

$$\frac{a_{n+1}-b_{n+1}}{a_n-b_n} \leq \frac{1}{2} \tag{2}$$

But shouldn't $(1)$ imply faster (quadratic) convergence?

(I know we need to subtract the limit to find the convergence, but I don't know the closed form, see below).


Now for the limit.

We have the following relations:

$$a_{n+1}b_{n+1}=\frac{a_n^2+b_n^2}{2} \geq a_nb_n$$

$$a_{n+1}b_{n+1}-a_nb_n=\frac{(a_n-b_n)^2}{2}$$


Can we find the limit of this sequence in closed form?

What is the true rate of convergence for this sequence?